New TUBACEX Strategic Plan Focuses On Energy And Mobility

The TUBACEX Shareholders’ General Meeting 2022 unveiled the company’s new strategic plan, culminating a cycle based on the design and manufacture of integrated tubular solutions. In this cycle, TUBACEX increased its efficiency rate, expanded and diversified, and reorganized its production with a product mix tailored to the profile of each of the group’s current 20 plants around the world.

At the Shareholders’ Annual Meeting, held in Bilbao’s Euskalduna Conference Centre and Concert Hall, chairman Francisco Javier García ran through the main milestones of the previous year, as well as some of the most relevant points in corporate Governance since the previous assembly. These include reorganizing the delegate bodies, reviewing their composition, titles and powers, and giving all committees their own governing regulations; and reinforcing the governing bodies with the aim of advancing towards a more sustainable future.

He was followed by TUBACEX CEO, Jesús Esmorís, who analyzed the year’s results, highlighting the global restructuring plan rolled out in 2020, in a market dominated by energy transition and COVID-19. The plan allowed the company to prepare for a new cycle, commencing in the second half of the year, and the final quarter saw a return to profits.

The company also unveiled its new Strategic Plan 2022-2025, which aims to see it become the provider of sophisticated industrial products and high value-added services to the mobility and energy sectors. It is doing so with sustainability as its driving force, at a time when the company is gearing up to deliver orders worth more than EUR 500 million, setting a record for the past four years. The plan foresees sales of EUR 1,000 million by the end of the period, leveraging the growth in traditional industries and the upswing in low-emission energy and mobility.

The meeting then approved the annual accounts and the management report and ratified the appointment of José Toribio González as independent director. They also approved the renewal of independent directors Jorge Sendagorta Gomendio and Iván Martén Uliarte, and proprietary director Isabel López Paños.

To reach this goal, up to 2030 the business will be divided into three main lines. First of all, TUBACEX will mentor clients through their decarbonization processes, by means of enhancing existing products. In other words, TUBACEX will continue to supply high value-added products and services designed to reduce carbon emissions and improve process efficiency. Second, it will expand its presence in low-emission energy, creating a new business unit to develop innovative solutions in power generation, storage and transport for the hydrogen market and other emerging industries. Finally, TUBACEX will analyze other opportunities for organic and inorganic growth in the energy and mobility sectors, extending into new businesses.

The Plan is structured around five strategic lines: the Sustainability Plan, the stability of the company’s current business lines, diversification, slashing net debt, and competitiveness.

TUBACEX will continue along its roadmap towards sustainability, involving specific initiatives to advance decarbonization in the company’s own processes and to promote circularity. The overarching aim is reduce emissions by 60% by 2030 and reach net zero by 2050.

Courtesy of TUBACEX.

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Sara Mathov is a feature editor contributing to Valve World Americas, Stainless steel World Americas and other related print & online media.